Yahoo swept out Scott Thompson as CEO Sunday in an effort to clean up a mess created by a misleading resume that destroyed his credibility as he set out to turn around the long-troubled Internet company.
There are a million funding stories in the tech industry every week. And most of them aren't particularly newsworthy. But the news that ecommerce startup ShopRunner raised $75 million from Chinese Internet company Alibaba has a pretty delicious backstory. Alibaba is a huge, powerful ecommerce company doing tons of business in China.
Struggling Internet pioneer Yahoo! has admitted to making an "inadvertent error" after an activist shareholder pointed out that its CEO's online bio wrongly said he had a degree in computer science.Until late Thursday, the company's website had said Chief Executive Officer Scott Thompson had received a bachelor's degree in accounting and computer science from Stonehill College, the Wall Street Journal reported.
(SAN FRANCISCO) — Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don’t fit into his plans for turning around the beleaguered Internet company. The cuts announced Wednesday represent about 14 percent of the 14,100 workers employed by Yahoo.